The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-10-15

Memphis, also made efforts against both,
which for u timc we're regarded ms danger
Gus. The latter town had possession OF the
courthouse, which many believed to be
the original. Dnc writer, however, main
tains that the ilrst session Of court for this
division OF the State was held in Memphis,
but only one, aud that very brief. The
county site was making great Roadway ~
a place 81 residence, hut business failed 10
matcrializc. These two lacts are easily
accounted ior: % Health giving waters
flowed from the hills In abundance. and
tho atmosphere was all that could he dc.
sired. (2) business in those days was de-
veloped altogether by fiat boats, ard for
these Raleigh had no waterway. Hence
IL was, that while Raleigh's population in
creased for several years, the real CONNER
cial rivalry existed only between Memphis
and Randolph. Both were well matched
as 10 population, numbering no over $50
or 900 souls.
The latter lad somewhat the advantage
for years. A flatboat owner named FRS
bic became identified with Randolphilcs,
| and poured into her lap the cotton and
other products Of the counties bordering
on Hatchie river. These boats piled
lIatchie IN far M Bolivar, penetrating
some OF the most fertile and, nj that time,
best cultivated lands In this section. In
consequence, CONSERVATION broke loose
among the Memphis adhercnts, some OF
whom pulled NJ stakes and made for
the future great.
In 1887, when the great financial crash
came, Randolph held the whip end and
WINS making lively headway. Tho removal
OF the deposits during President Jnckson's
term caused an increase Of local banks TO
spring up in all parts Of the country, par
t~icularly in Georgia, Arkansas, Alabama
and Mississippi, especially in the two lat
ter. Az n result, tho country was soon
flooded with these issues, which soon de-
prcCiatcd 10 about ~ average al 30 cents
on the 81. IL was, however. very iluctu-
nting. being wholly subject 10 the mancu-
yerings of an INSCRIPTIONS set III men. A
perfectly organized ring Of that kind was
formed in Memphis, headed by Nirion
Richmond. For ycan lac controlled the
current value between Cairo aud New Or
leans. lilo WAS finally undermined, but
gave way ~ parties equally INSCRIPTIONS.
The State Of Mississippi was more under
the dominion aud control II these iinan-
| cicn than my other. being nearly their
headquarters. The Planters bank, located
at Jackson, had n capital stock rating Of
about "a, 600, OOO, while ihccclcbmtcd nran-
don bank was also very prominent. Whom
they fail0d, In 1887. The crash was awful
and affected the entire country. IL was
more intensely felt in The south, however,
than elsewhere, and 1cnncsscc, especially
the river counties, caught the blow In all
il intensity. Upon IL hinged the destiny
OF Memphis, M aiterwnrl developed. RIM
dolph, then n ilo%urishing village, with cN-
tcnsiyc wholesale establishments, dropped.
The mas, Of supply business Tor this Sec
ton wa transacted there, and, ~ n matter
of course, advances on consignmcnts Of
produce were large.
Du, the then prominence of Randolph
should I've explained more explicitly. The
business firms located there wcc la the
nature Of agencies, with controlling spirits
NJ New Orleans. Favored 10y Hat boat
lines, New Orleans houses aided and en-.
couragcd the opposition 10 Memphis,
merely ~ business foresight. Their drum.
were Hont into West Tennessee territory,
directly 20 the planters, and In a dual ca
pacity. They solicited consignmcntS, Tor
Randolph houses, backed them mp Ia the
enterprise and in the end papcd the NJ
ward. Tho produce went to them nj last;
groceries, dry goods and other supplies
Ntfo lNiutncut holu w lho puNhl'lh' unu
thus profits accrued TO the merchants nj
both ends of the line from the lnbos 81
the farmer.
While Randolph dropped, never To 10.
ruvur, the chnngr was by 10 means In.
Simultaneous, but required Eve OF six years
~ manifest itself unmistnknbly. AZ late
~ 1912 one merchant shipped from that
place ~ many M 1000 bales. Consider
ing the developed state Of the country at